February 2012

CLOSE TO CLOSE: Base metals prices recover losses in LME kerb as euro rebounds

Base metals prices fell back in afternoon trading on the London Metal Exchange on Tuesday following a weaker euro, but recovered some of those losses in kerb trading as the euro rebounded.

LME steel billet prices widen as bid/offer spread indicates low activity

London Metal Exchange steel billet prices widened on Tuesday February 28, as the bid/offer spread indicated lower activity.

Spot copper TC/RCs jump on Pasar outage, attention turns to Grasberg, La Oroya

Spot treatment and refining charges (TC/RCs) for copper concentrates have risen by two-thirds since the start of the year as the outage at Glencore’s Pasar refinery has freed up the supply of concentrates.

MEIR ON METALS: Markets remain firm as euro strengthens, energy weakens

Analyst Ed Meir looks at what is moving the metals markets on Tuesday February 28.

Base metals prices keep rising in LME officials on Europe’s LTRO

Base metals prices continued to strengthen in official trading on the London Metal Exchange on Tuesday February 28, as the euro took strength from the ECB’s long-term refinancing operation (LTRO), which is expected to see good demand.

A BROKER WRITES: And the front-runner for the London Metal Exchange is… the SGX

Which exchange or company is most likely to table the winning bid to take over the London Metal Exchange? One broker (who requested anonymity) thinks that talk about ICE and the CME being the favourites is overdone. So who does he tip to take over the LME, and why?

Base metals prices rise in LME pre-market on second loan deal

Base metals prices improved in pre-market trading on the London Metal Exchange on Tuesday February 28, after the European Central Bank approved the allotment of a second round of unlimited three-year funds to boost liquidity for its banks.

LME ASIAN WRAP: Copper climbs on ECB loans plan

London Metal Exchange copper made small gains in early Asian trading on Tuesday after market confidence was buoyed by a pledge by the European Central Bank (ECB) to offer a second round of unlimited three-year funds on February 29.

Japan's aluminium buyers stunned by supplier premium demands

Japanese aluminium buyers were surprised at a push by suppliers for second-quarter premiums as high as $132 per tonne.

CLOSE TO CLOSE: Base metals prices recover in LME kerb as euro climbs

Base metals prices recovered in kerb trading on the London Metal Exchange on Monday February 27 as sentiment improved, after a lack of progress among G20 finance ministers meeting over the eurozone crisis saw prices fall in early trading.